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Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 18 September 2025
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Displaying 3340 contributions

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Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

That is less than clear, is it not?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

Are you going to meet the three-month timetable set out in the Auditor General’s recommendation?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

I am still none the wiser as to whether the Scottish Government’s position is that it wants the Scottish National Investment Bank to be a perpetual investment fund or not.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

Why does it take so long? The announcement was made in April that Mr Denholm was standing down. I think that he was very generous in saying that he would hang around to make sure that there was a transition and that he was in no rush to get out of the door and so on, but you might be trying his patience if you are saying that it will be another couple of months before somebody is going to be in post.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

Yes, there is patient capital and there are patient men. However, on a serious note, from the point of view of the good operation of the bank and the maintenance of the leadership of the bank, surely there should be a little bit more urgency and an understanding that, presumably, whoever is appointed will need to give notice to their current employer. You could be looking at next year before someone is in post.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

Those were our final questions this morning, so, with that, I take this opportunity again to thank you, Gregor Irwin, for the evidence that you have led this morning. Mr Hogg and Mr Rollison, you have both been very—what is the word that I am looking for?—comprehensive contributors, so we thank you very much indeed for the evidence that you have given us. The session has been very informative.

I move the committee into private session.

11:06 Meeting continued in private until 11:37.  

Public Audit Committee [Draft]

Decision on Taking Business in Private

Meeting date: 10 September 2025

Richard Leonard

Good morning. I welcome everyone to the 23rd meeting in 2025 of the Public Audit Committee. We have received apologies from Joe FitzPatrick, but we will be joined online by his substitute, Stephanie Callaghan.

The first agenda item is a decision on whether to take agenda items 3 and 4 in private. Does the committee agree to take those items in private?

Members indicated agreement.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

Thank you. I turn to one of those—a recommendation for you—which is to ensure that the business investment group is up and running and working effectively. Will you give us an update on where you have got to with that?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

For clarity, director general, you are the accountable officer in the Scottish Government for the Scottish National Investment Bank, and I think that you described Mr Rollison as the portfolio director, so how does that relationship work? What is your relationship with the Scottish National Investment Bank—is it simply through delegated authority through Mr Rollison and Mr Hogg?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Richard Leonard

When you were asked about positive examples, you spoke about the renewables sector and cited the port at Ardersier. That work is being driven by Quantum Capital Group, which is headquartered in Houston, Texas. We had discussions with Mr Denholm and Mr Watt about covenants and trying to lock in Scottish ownership and control. What balance has been struck in the renewables sector, for example, between investment in indigenous businesses and foreign direct investment projects such as that at Ardersier?